(1) The commission must require a railroad company that transports crude oil in Washington to submit information to the commission relating to the railroad company's ability to pay damages in the event of a spill or accident involving the transport of crude oil by the railroad company in Washington. The information submitted to the commission must include a statement of whether the railroad has the ability to pay for damages resulting from a reasonable worst case spill of oil, as calculated by multiplying the reasonable per barrel cleanup and damage cost of spilled oil times the reasonable worst case spill volume as measured in barrels. A railroad company must include the information in the annual report submitted to the commission pursuant to RCW 81.04.080.
(2) The commission may not use the information submitted by a railroad company under this section as a basis for engaging in economic regulation of a railroad company.
(3) The commission may not use the information submitted by a railroad company under this section as a basis for penalizing a railroad company.
(4) Nothing in this section may be construed as assigning liability to a railroad company or establishing liquidated damages for a spill or accident involving the transport of crude oil by a railroad company.
(5) The commission may adopt rules for implementing this section consistent with the requirements of RCW 81.04.080.
[ 2015 c 274 § 10.]
NOTES:
Effective date—2015 c 274: See note following RCW 90.56.005.